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Consolidated Statements of Cash Flows
12 Months Ended
Mar. 31, 2024
SGD ($)
Mar. 31, 2024
USD ($)
Mar. 31, 2023
SGD ($)
Mar. 31, 2022
SGD ($)
Cash flows from operating activities        
Net income $ 3,355,409 $ 2,490,100 $ 3,926,821 $ 2,077,008
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation of property, plant and equipment 536,013 397,783 540,105 530,927
Amortization of right-of-use assets 986,420 732,037 667,660 553,724
Operating lease modifications (7,025) (5,213) (53,991)
Property, plant and equipment write-off 3,534
Bad debts write-off 2,563
Loss/ (Gain) on disposal of property, plant and equipment (5,000) (3,711) (386) 3,723
Allowance for inventories write-down 56,415 41,866 256,919 157,322
Provision for allowance for expected credit losses – third parties 68,436 50,787 214,169 319,912
Fair value change in financial instrument (9,502) (7,052) (1,542) (5,758)
Changes in operating assets and liabilities        
Accounts receivable, net (899,646) (667,641) (1,745,800) (1,845,394)
Other receivables 35,705 26,497 (53,357) 118,433
Advances to related parties 32,290 (196,585)
Inventories (524,506) (389,244) (418,177) (658,436)
Accounts payable (229,789) (170,530) 594,653 915,247
Other payables 1,602,687 1,189,378 (234,690) (55,905)
Finance lease liabilities – interest portion of lease payment (80,461) (59,711) (41,225) (34,919)
Operating lease liabilities (816,855) (606,200) (636,239) (538,980)
Income tax payable 131,736 97,765 553,929 (16,642)
Net cash provided by operating activities 4,200,037 3,116,911 3,607,236 1,323,677
Cash flows from investing activities:        
Purchases of property, plant and equipment (235,355) (174,660) (13,551) (189,754)
Proceeds from disposal of property, plant and equipment 5,000 3,711 386 1,093
Net cash used in investing activities (230,355) (170,949) (13,165) (188,661)
Cash flows from financing activities:        
Advances from / (Repayment to) shareholders, net (186,950) (138,738) 161,127 503,944
Dividends paid (2,000,000) (1,484,230) (1,150,000) (950,000)
Deferred IPO expenses (543,076) (403,025)
Repayments of bank loans (126,628) (93,973) (1,140,400) (390,086)
Payments for finance lease liabilities – principal portion (76,991) (57,137) (173,950) (167,400)
Net cash used in financing activities (2,933,645) (2,177,103) (2,303,223) (1,003,542)
Net changes in cash and cash equivalents 1,036,037 768,859 1,290,848 131,474
Cash and cash equivalents at beginning of the year 2,432,557 1,805,237 1,141,709 1,010,235
Cash and cash equivalents at end of the year 3,468,594 2,574,096 2,432,557 1,141,709
Supplement disclosures of cash flow information        
Income taxes paid (660,471) (492,631) (316,396) (455,656)
Interest paid $ (214,462) $ (159,155) $ (142,496) $ (119,180)